Generally speaking, Bank of China has a 3-day grace period for gold and regular cards, and an 8-day grace period for platinum cards. The repayment must be made before 20:00 on the last day of the grace period at the latest. Considered as normal repayment. It should be noted that some special card types do not enjoy the grace period service. And if the credit card is overdue for more than 60 days, all the credit cards in your name will be unable to be used. At this time, you need to repay as soon as possible. After the repayment, the card will automatically return to normal. If the repayment is overdue for more than 180 days, the card status cannot be restored, and the use of other cards can be resumed after the repayment is received.
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The consequences of an overdue credit card:
1. It affects your own credit report. Credit cards are a business launched by banks. Overdue credit cards will cause your own credit report. Generally speaking, as long as you are overdue more than 6 times or overdue for more than three months at a time, you are considered a seriously overdue credit user. The overdue time is as long as 4 years and you have been included in the credit blacklist. Later, you can take a plane or high-speed rail to the bank to handle the matter. Loans, etc. will be restricted.
2. High penalty interest and liquidated damages will be incurred. As long as the credit card is repaid before the repayment date, no interest will be charged. If you use a credit card to withdraw cash and overdue after a large purchase, not only will interest be incurred, but also interest will be charged. There will be penalty interest and liquidated damages. The penalty interest is 50,000 per day, and the amount of debt owed is as high as 400,000. The penalty interest and liquidated damages during the four-year period are huge.
3. Being sued by the bank. Credit card arrears will eventually be sued by the bank. The overdue amount is 400,000 yuan. If you refuse to repay after repeated collections and you are able to repay, you may be suspected of malicious cashing out. , the ultimate consequence is jail time.
4. Bear criminal responsibility. If the crime of credit card fraud is constituted, the person will face a fixed-term imprisonment of not more than 5 years, not less than 5 years, not more than 10 years, not less than 10 years, or life imprisonment, and a fine of not less than 20,000 yuan but not more than 200,000 yuan, and not less than 50,000 yuan but not more than 500,000 yuan, or confiscation. property.
5. So for us, after the credit card is overdue, we need to repay it as soon as possible. If we don’t have enough money on hand to repay it, we can choose to repay it in installments. If we can’t get the installment funds, we can find friends or Family turnover. At the same time, I need to reduce my living expenses, increase my income sources, and repay my debts as soon as possible. Banks usually outsource the collection business to a third-party collection platform when the cardholder's overdue amount is relatively large or for a long time. At this time, you can negotiate with the collection staff to reduce or reduce the repayment or extend the deadline.